Oil Price Watch

[niky]

Canadian tar sand production is being subsidized... but as they gain more and more of the market, the Canadian government will slowly but surely roll back those subsidies (it's already being pressured to by the green movement because of how environmentally destructive digging is). Sensitive issue, at the moment, with protests going on in Canada over gasoline prices, taxes and reduced government spending on social programs.

I don't foresee Canadian tar sand oil going for less than 80$ a barrel. Current estimates are profitability is only assured above $65 a barrel, and huge investments will only come in as long as oil holds around $80. If the price falls to or below the $60 mark, they aren't going to invest.

[uls]

They are now the USA's biggest oil supplier.

they have been the biggest supplier for many years na

[uls]

and also...

oil production in Canada and North Dakota doesnt affect the price of fuel we buy here

fuel the Philippines buys is priced in Singapore which is linked to Brent

even if US oil storage is filled to the brim (which is already happening coz there's so much oil coming from Canada and North Dakota) what goes down is WTI not Brent

[Ry_Tower]

and also...

oil production in Canada and North Dakota doesnt affect the price of fuel we buy here

fuel the Philippines buys is priced in Singapore which is linked to Brent

even if US oil storage is filled to the brim (which is already happening coz there's so much oil coming from Canada and North Dakota) what goes down is WTI not Brent

This is the important point IMO, we don't get our oil from canada.

It is indeed unfortunate that it has become expensive to produce the oil we have been buying.

[uls]

Canada can only export its oil to the US

coz the pipeline infrastructure is only Canada-US

kaya biggest oil supplier ng US ang Canada coz Canada can't send its oil anywhere else. the US is Canada's only customer

Canada produces a lot of oil and sends it to the US so US crude oil storage at Cushing is always full

and not only that

oil from North Dakota also goes to Cushing

there's always so much oil at Cushing kaya malaki ang difference ng price ng WTI sa Brent

[crazy_boy]

5 OIL FIRMS ROLL BACK PRICES FOR 8TH CONSECUTIVE WEEK
Philippine Daily Inquirer
June 4, 2012

For the eighth consecutive week, local oil companies are slashing prices of petroleum products effective Monday to reflect the continued downtrend in the international oil market. Petron Corp., Pilipinas Shell Petroleum Corp., Eastern Petroleum, Phoenix Petroleum and Seaoil Philippines have decided to slash prices of diesel by 65 centavos a liter; kerosene by 60 centavos a liter; regular gasoline by 40 centavos a liter; and of unleaded gasoline by 30 centavos a liter. Other oil companies are expected to follow suit. Prior to Monday’s rollback, prices of diesel ranged from roughly P42 a liter to P46 a liter while gasoline prices hovered between P48 to P56. Global oil prices have been falling to its lowest level in more than six months, according to the Department of Energy, due to high fuel supply inventory in the US and concerns that Europe’s debt crisis would worsen, thus eventually dampening demand.

ayan. may rollback na. pero 40cents lang hehe

[Ry_Tower]

Diesel at least .65

[crazy_boy]

Diesel at least .65

RT, hindi yata "at least", .65 lang talaga.

[Monseratto]

Spotted P42.35 na lang ang diesel.

[shadow]

How much cheapest nakita niyo?

Sent from my iPad using Forum Runner (wishing it's tapatalk, Jedi)